Market Overview

The Next Move For Etsy Investors After The Stock's Recent Outperformance

The Next Move For Etsy Investors After The Stock's Recent Outperformance

Shares of Etsy Inc (NASDAQ: ETSY) have surged 58 percent since July 1, versus a mere 4 percent gain in the S&P.

“[Despite this recent outperformance], we believe there is still room for numbers to improve and, therefore, think the stock continues to work,” Citi’s Mark Kelley said in a report. He maintained a Buy rating on the company, while raising the price target from $16 to $20.

Neither the acquisition of Blackbird Technologies nor the new partnership with Intuit Inc. (NASDAQ: INTU) has impacted Etsy’s shares, Kelley mentioned.

Related Link: Meet The Woman Who Turned Mean And Creepy Sexting Messages Into An Etsy Store

Blackbird Acquisition

On September 19, Etsy acquired Blackbird Technologies, with an aim to enhance its search capabilities. Engagement at Etsy’s Exploratory Search rise ~10 percent, while Blackbird claims to have witnessed a 10-20 percent conversion improvement on its website. Kelley expects the acquisition to boost conversion at Etsy.

Intuit Partnership

“Etsy now offers a discounted rate on QuickBooks Self-Employed (U.S. and U.K.), which is immaterial at this point, but is a clear indication that the company continues to look for ways to ease seller paint points,” the analyst wrote.

The EPS estimates for 2016, 2017 and 2018 have been raised from $0.06 to $0.08, from $0.17 to $0.30 and from $0.37 to $0.50, respectively.

Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

Latest Ratings for ETSY

Sep 2020BTIGUpgradesNeutralBuy
Aug 2020CitigroupMaintainsBuy
Aug 2020Canaccord GenuityMaintainsBuy

View More Analyst Ratings for ETSY
View the Latest Analyst Ratings


Related Articles (ETSY)

View Comments and Join the Discussion!

Posted-In: Citi Mark KelleyAnalyst Color Long Ideas Price Target Reiteration Analyst Ratings Trading Ideas Best of Benzinga

Latest Ratings

TXRHJP MorganMaintains67.0
SBUXJP MorganMaintains82.0
MCDJP MorganMaintains220.0
CMGJP MorganMaintains1,115.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at